The market for claims exists in various ways and there is nothing new about an electronic stock market either. We are going to mix existing ideas with existing ecosystems, even step into systems through existing channels and to bring certain possibilities to market attention. The regular item that everybody trades is a buy-sell agreement. It is very easy to understand, every investor can buy stock and assume that what is happening behind the electronic market system, how the trade matching takes place and what are the consequences in the accounts when the deals are finally closed. An ecosystem which is mostly the same as stock market and built only for claims, rights, and receivables, operates on the basis of assignment agreement, has a great opportunity to spread around the world and to gain customers everywhere.

How does the project create value to the ecosystem and differs from competing projects

Ziggurat Tokens represents a decentralized virtual currency represented in specialized Ethereum smart contracts following an "ERC20" standard. Ziggurat Tokens enable participants to interact with Ziggurat’s Ecex.Exchange marketplace services, as storage, content, and data are obtained with Ziggurat Tokens as partly a payment mechanism.First partnership access – Ziggurat Tokens ownership will give access to advanced platform’s features. Second, assignors and assignees on Ecex.Exchange trading platform rewarded with a Ziggurats bonus if they make a certain volume. Third, every time Ecex.Exchange receives an assignment for trading platform, the customer will be rewarded with Ziggurat tokens. Incorporated company's country: ESTONIA

PlanetZiggurat goal is to bring assignments on Ecex.Exchange trading platform. We will fill the gap by creating a market environment, the system for an active trading platform of assignment agreements. This means changing of owners of a multitude of agreements and documents, such as claims, invoices and factoring agreements all together assignments.The regular thing what everybody trading is buy-sell agreement. It is very easy to understand, every investor can buy stock and he assumed that is happening behind the electronic market system, how the trade matching takes place and what is the consequences in account then the deals are finally ended.But in the ecosystem which is mostly same as the stock market and built only for claims, rights, and receivables, operates on basis assignment agreement, there are great possibilities spread around the world and win the customers everywhere.PlanetZiggurat is aiming for 1 million trades per day by the end of the third year. Our revenue will come from services including: trading fees, issuer background check systems, digital signing, exchange member fees etc. The cash flow will be similar to stock exchange business. The only difference will be instruments and a set of agreements.

Ziggurat TokensThe PlanetZiggurat shall grant to the User an opportunity to use the Ziggurat digital tokens to: (i)opportunities to pay partly for service to sell and buy claims, receivables, and mediate insurance contracts, (ii) to pay partly various support services related to the selling and buying through the exchange, and give users exercise right to realize their own requirements regarding claims,(iii) Ziggurat cryptocurrency grants the right to profit from up to 20% of Ecex.Exchange Trading Platform outcome, (distribution will be in cryptocurrency, in ethereum until otherwise decided),(iv) using Ziggurat cryptocurrency for internal payments through the Ecex.Exchange Platform.The smart-contract of the Ecex.Exchange Platform requires the Ziggurat digital tokens for its work. Only the owner of the Ziggurat digital tokens may purchase with discounts the services of the Ecex.Exchange Platform.

The Roman law provides an invaluable introduction to the understanding of legal concepts and a passport to the appreciation of Continental legal systems. Roman law is the product of the genius of good order and organized common sense of a remarkable ancient civilization, and it constitutes a legacy that has had a profound influence in subsequent ages.

1.2. Cessio

There are two main institutes related to cessio: - cessio bonorum: where a debtor had become insolvent owing to unforeseen circumstances, he could, under the formulary procedure, avoid the infamy attached to execution by petitioning a magistrate to allow him to make a voluntary cession of his property (cessio bonorum) to his creditors;

- cessio in iure: Litt. cession before a court. It was a ritual procedure (imitating the procedure of the legis actio sacramento in rem) already known by the time of the Twelve Tables that was used to create, transfer or extinguish certain rights (specifically the so-called ?Quiritary rights?). It partly fell into disuse in classical Roman law.1.

Cessio bonorum, (Latin: ?a cession of goods?), a voluntary surrender of goods by a debtor to his creditors. It did not amount to a discharge of the debt unless the property ceded was sufficient for the purpose, but it secured the debtor from personal arrest. The creditors sold the goods, applying the proceeds to their claims. Although property that the debtor might acquire later could be claimed by the creditors, he could not be deprived of the bare necessities. The main features of cessio bonorum were adopted into the French and other legal systems. In England it survives in the internal regulations of certain commercial bodies, such as stock exchanges.Cessio bonorum ,was a procedure introduced by Augustus reign (Republic) , whereby a judgement debtor voluntarily surrendered his property to the creditors. The property was sold off, but the debtor would not be subjected to legal disgrace or to the possible imprisonment by the creditors. Surrender was not available as of the right: it applied only there the preator was satisfied that the debtor had genuine assets and that the bankruptcy was the result of misfortune.

In jure cessio was a conveyance in the form of a lawsuit. The transferee claimed before the magistrate that the thing was his, and the transferor, who was the defendant, admitted the claim. The magistrate then adjudged the thing to the transferee. (The sham-lawsuit theory, however, is not acceptable to all modern scholars, principally because the judgment of ownership was valid against any possible private claimant, not merely against the defendant, as in a true lawsuit.) 2 Cessio had some similarities to mancipatio. It was a highly formal and cumbersome conveyance, originating before the Twelve Tables and fading in importance long before Justinian. Our knowledge of cessio is derived mainly from Gaius, who tells us(Inst.Gai.2.24) that cessio was performed before a magistrate, such as the preator(or governor) with the transferor and transferee present, together with the property to be transferred (or a symbolic sod of earth in the case of land). The transferee grasped the property and uttered the same set words as in mancipatio. The preator asked the transferor thether he claimed the thing. Assuming that the latter stayed silent, or made no claim, he was taken as having ceded his rights, whereupon the preator awarded the property to the transferee.3

2. ASSIGNMENT TODAY

An assignment (Latin cessio) is a term used with similar meanings in the law of contracts and in the law of real estate. In both instances, it encompasses the transfer of rights held by one party?the assignor?to another party?the assignee. It can also be a transfer of a benefit, including an equitable interest, according to established rules (at common law or in equity).The rights may be vested or contingent.The details of the assignment determine some additional rights and liabilities (or duties).Typically a third-party is involved in a contract with the assignor, and the contract is in effect transferred to the assignee. For example, a borrower borrows money from a local bank. The local bank receives a mortgage note and can thereafter transfer that note to a financial institution in exchange for a lump-sum of cash, thereby assigning the right to receive payment from the borrower to another entity. Mortgages and lending contracts are relatively amenable to assignment since the lender's duties are relatively limited; other contracts which involve personal duties such as legal counsel may not be assignable.The assignment might be claims, all kind of contracts, factoring contracts, receivables, the pool of loan contracts and so on. Ecex.Exchange Trading Platform enables download all assignment related documents to the digital container under digital signature. It mean if assignment agreement is on the market buyer obtain all related documents and have full authority to realize his rights. Assignment Wikipedia

If I don't have cryptocurrency account can I still participate?The idea seems promising and I have quite a knowlede on debts area, but this brave new blockchain world is quite unknown to me.So i would feel much more comfortable to use old good currency.

This is a good question and we have thought about this. Nothing has been decided yet, it depends if we can find reliable third-party / trader who would provide this service. In this case, you would still get Ziggurat tokens, but they would be held on your account in Ecex Exchange not on Ethereum account. As one cornerstone of Ecex is Securities Depository, holding custom ERC20 tokes is already kind of built in and is not a problem at all.We will keep you posted

EETP users will be very different economic agents who willing to perform the very different set of agreements. EETP blueprints show us, trading systems are meant for various universal agreementsbased on assignments from antic cession agreement logic and that there are possibilities to use EETP that all future exploitation is impossible to present.Here is little overview and examples what private person and companies can do with EETP.

1.Private person.

The simplest problem for the private person is personal loans and loan agreement. Assume that Private Person wants to take a loan 5000 euros. The easiest use is to sell loan agreement against her/himself on EETP. It means loan buyer is lender and lender can bee assignor and sell loan forward trough stocklike bid/ask system. Byer is assignee and Private person loan is on a free market. Everybody can buy it through EETP.

A private person can, of course, be assignor and sell all her/his assignments on EETP. The process is very simple.Private person log to EETP, there will be Jumio like identification, after that she/he downloading all assignment related documents to digital container, read NDA and assignment agreement, put the price to assignment and after the submitting data the assignment is on EETP and Private person role is assignor and her/his assignment is on market.

A private person can as assignee to find the financier for temporary bills or other loan agreements that she/he have to pay. Adding documents to assignment digital container and put the price Privat person can sell all different obligations her/herself.

2. Company

Mostly same thing as the private person: Thin about possibilities, then the company can sell loans and banks and credit companies have to buy them through simple assignment agreements. Keep in mind that loan agreements and other related documents are in the digital container and belong to assignment agreement. Assignee determine the provisions and assignor have to agree if assignor want to buy and all this takes place in the marketplace , there mostly the same picture as stack market only instruments are assignments.

3. Financial institutions.

Let say that Italia gets busted. There are hundred banks, wanting to sell the loan agreements and the only way is by phone to find the old classmate in China and try to pitch the quality of distress loan portfolio. EETP have the solution. Italian bank can but as assignor all loans to one digital container and spread the selling information through EETP to possible buyers and even give in ask side indicative offer. And maybe there will be in ten minutes the deal and the unknown for Italian bank manager Soul credit company bought all loans.

For participating ICO all that is needed is ERC20 compatible wallet. As we do not know the owner of walled it is the responsibility of wallet owner to comply local laws of his/her residency.https://ico.ecex.exchange/

On your Bonus Program page https://ico.ecex.exchange/ico-tiers-2/ I can see that ICO period is planned for 5 months.In case of many ICO-s the period is rather 5 weeks than 5 months. Is there particular reason for that?

Thank you for your question FlaviusStidolph. Indeed the ICO period is in our case longer than in many other cases.There are several reasons for that. First of all, we are not using PR companies and spin doctors to ensure the success of our ICO but instead we-we do as much our selves as we can.No doubt professionals are highly effective but instead of this, we would like to spread resource (in a form of Ziggurat tokens) to our future customers or just supporters via affiliate program (details will be revealed soon).Spreading the word will take longer this way and we want to give the opportunity to participate in ICO to as many people as possible.Also during this period development goes on and we want to prove to possible ICO participants that we are really committed to this project not just raising money and then deciding what to do with it.

Thanks for the reply. In addition to the previous response, I would like to add that even we like make hands dirty we still use high professionals to help us build the system. With 27 year knowledge, we have found many great partners and participated in several projects. So the goal is to use ready products and services, modify them, add some new ones (like possibilities what blockchain offer), standardize and globalize debt related instruments and put this all together to one new wonderful environment where also "man from the street" can find his opportunity.But this is the future, now back to the essence of your question.1) Ziggurat (ZIG) cryptocurrency can be used as a payment instrument for Ecex Exchange services.2) Ziggurat cryptocurrency grants the right to profit from up to 20% of Ecex.Exchange Platform outcome.

So Ziggurat token holder cana) buy many services much cheaperb) it is very highly likely that when Ziggurat is listed on exchanges the price will rise as there is significant difference in ICO price and price how ZIG is evaluated in Ecex Exchange pricelist.

One of the most interesting in the ICO world is the question how we can use tokens and what benefits and profits we will get. Ecex.Exchange Trading Platform will introduce in series articles how and then Ziggurat tokens holders can use and how our Trading Platform will work. Our Trading Platform ecosystems allow use tokens in every deal if parties agreed to use tokens in the mutual settlement. And there is the question not only Ziggurat tokens but every token, coins or another instrument that represent the value that parties suit and agreed. On Trading Platform, of course, all fees can pay with Ziggurat tokens and we prefer that deals are performed in Ziggurat token as well. The world is the big place and all possible assignments including claims, factoring agreements, receivables, bills, loan agreements and other digital assets are issued in different currencies and it is essential that our Trading Platform allows all these transactions made by our users. Ecex.Exchange does not and can not involve to assignment agreement that is the base of our Trading Platform and it mean that all willing parties who want deal with free market tokens are welcome.

Introducing debtors possibility to sell claim against her/himself.

The essence of Ecex.Exchange Trading Platform is the negotiation of the divestiture agreements, which means that the assignor enters our Trading Platform in his assignment. Assignor is the role meant that this role can be filled in every person and the even debtor can introduce her/his dept.A Trading Platform can also introduce divestitures of the claim into the debtor, which means that the debtor can place the sales claims against her/him.This option turns the whole loan-giving logic around.In real life, this means that borrowers place their divestitures of claims against her/himself on the Trading Platform and wait for lender offers. They can put the price that they hope and the lenders have to fight to get the deal. Visual picture is like the stock market, but the instruments are different. And bid/ask are filled in that case ask side from debtor and bid side from the lender. As we see the platform allows different combinations of users and gives provides solutions to various economic agents.

General conditions

The Ecex.Exchange Platform is an online blockchain technology-based assignments (claim, receivables, factoring agreements, divestiture of claims etc.) exchange platform, which shall provide to the User: (i) opportunities to sell and buy assignments, claims, receivables, and mediate insurance contracts, (ii) various support services related to the selling and buying through the exchange, and give users exercise right realize their own requirements regarding claims, (iii) opportunities to ensure the safety of assignments and using Ziggurat cryptocurrency for internal payments.The PlanetZiggurat shall grant to the User an opportunity to use the Ziggurat digital tokens (i)to opportunities to pay partly for service to sell and buy assignments, claims, receivables, and mediate insurance contracts, (ii) to pay partly various support services related to the selling and buying through the exchange, and give users exercise right realize their own requirements regarding claims,(iii) Ziggurat cryptocurrency grants the right to profit from up to 20% of Ecex.Exchange Trading Platform outcome, (distribution will be in cryptocurrency, in ethereum until otherwise decided),(iv) using Ziggurat cryptocurrency for internal payments through the Ecex.Exchange Platform,(v)Allow traders to settle Ziggurat tokens,(vi)PlanetZiggurat will not emit additional tokens over initial amount 531 000 000,00 ZIG,(vii) If some services in Ecex.Exhange or another platform will burn Ziggurat tokens then it is allowed to emit additional tokes to restore maximum emission amount,(viii) Founders and Foundation will not sell Ziggurat tokens on public markets until the end of 2018. Only the owner of the Ziggurat digital tokens may purchase with discounts the services of the Ecex.Exchange Platform.https://ico.ecex.exchange/

First 100 ICO participants will get additional bonus descending from 100% to 1% (Persons involved in Ecex Echange project are not allowed to participate in Early Bird bonus program)Participation time bonus

First, 30 days extra 30% tokens added on top of every purchaseSecond 30 days extra 15% tokens added on top of every purchaseThird 30 days extra 7.5% tokens added on top of every purchaseFourth 30 days extra 3.25% tokens added on top of every purchaseFifth 30 days extra 2% tokens added on top of every purchaseAmount Bonus (applied to single transaction)

Currently, world markets for distressed debt tend to be characterized by comparatively small trade volumes, a limited number of active investors and large bid-ask spreads. This might reflect various factors, such as significant differences in the required rates of return for banks and investors and in loan recovery expectations, and how servicing costs are taken into account. Ecex.Exchange understand how this market currently functions and gather information how could assist its further development. In particular, it is of interest to ascertain if there are specific the gap to fill that constrain the assignment of loans.(Ecex.Exchange expertise) The lack of independent servicing capacity in some markets may hinder the development of liquid secondary markets for loans and especially distressed debt. That kind of independent services Ecex.Exchange exactly propose. Furthermore, when banks and credit companies assign defaulted loans, third-party servicers as Ecex.Exchange represents an alternative to manage those loans on behalf of investors, which usually do not have appropriate capacity to service NPLs.

2. Assignment of loans

Banks may assign performing or non-performing loans to outside investors in order to manage the composition of their balance sheet, their risks and to allow a potential business model re-orientation. Loan contracts can, in principle, be assigned from the originating creditor to a third-party investor under private law regimes. This is most often done via an assignment agreement with the new creditor, which takes over the original creditor's rights and obligations.Ecex.Exchange Trading Platform is meant exactly for that kind of business.Banks will introduce NPLs on our platform and potential assignees will obtain the rights trough assignment agreement. Sales can contribute to strengthening banks’ balance sheets and their profitability in the medium to long-term, as the transferring bank would not incur the additional administrative expenses and potential additional losses related to the future management of the loans. In addition, removing NPLs from a bank's balance sheet reduces the uncertainty around the bank's asset quality and loan valuations, as uncertainty on possible future losses associated with the NPL portfolio disappears. In the short term, however, the assignment of NPLs might in some cases stress the bank's capital position and raise concerns regarding the viability of the bank. In some cases, assignee of NPL contracts, including non-banks, may be more effective in recovering value, in particular through the potential use of better management and servicing. Especially some smaller banks may lack the required in-house capacities and internal processes to manage large portfolios of non-performing loans. Moreover, banks and non-bank investors may face a different set of incentives and constraints when managing loans. Banks may be more reluctant to restructure loans to avoid moral hazard and so-called strategic defaults of existing borrowers. Today an important aspect of the functioning of secondary markets for NPLs are the large bid-ask spreads. Ecex.Exchange will reduce spreads and it decreases uncertainties about future cash flows, information asymmetries between assignors and assignees and also first-mover disadvantages/ coordination challenges. Together, these factors may significantly constrain the price discovery process. Potential assignees tend not to have access to reliable, granular, readily available standardized information on asset quality and loan tapes in banks. As a consequence, potential assignees may in some cases offer a price that does not reflect the value of portfolios for sale, thus hindering potential transactions.However, Ecex.Exchange provides stock market like price possibilities and assignors and assignees will present they best prices and wills and it is nature of the business that at some point prices are suitable for both parties.

Ziggurat tokens shall provide for the user, today's case the banks, opportunities to sell and buy assignments (NPLs) for certain prices. There is the example:All service fees are for Ziggurat Token holders payable with Ziggurat Tokens.Let assume that assignment cost is 20 EUR. Ziggurat Tokens holder will pay 20 Ziggurats.Let assume that guest service fee is 50 EUR.Ziggurat Tokens holder will pay 50 Ziggurats.For paying for Exec.Exchange Trading Platform services Ziggurat Tokens can be used on exchange rate 1 ZIG = 1 USD (this rate only Ecex.Exchange Trading Platform if paying for services.).We project our assignments amount several million, in the end, third year. It gives great opportunity trade tokens in free marketplaces or uses them on Ecex.Exchange Trading Platform.The Ziggurat Tokens will be an integral part of the Ecex.Exchange Trading Platform as a means to support and pay for the services on the Ecex.Exchange Trading Platform.

General conditions

The Ecex.Exchange Platform is an online blockchain technology-based assignments (claim, receivables, factoring agreements, divestiture of claims etc.) exchange platform, which shall provide to the User: (i) opportunities to sell and buy assignments, claims, receivables, and mediate insurance contracts, (ii) various support services related to the selling and buying through the exchange, and give users exercise right realize their own requirements regarding claims, (iii) opportunities to ensure the safety of assignments and using Ziggurat cryptocurrency for internal payments.The PlanetZiggurat shall grant to the User an opportunity to use the Ziggurat digital tokens (i)to opportunities to pay partly for service to sell and buy assignments, claims, receivables, and mediate insurance contracts, (ii) to pay partly various support services related to the selling and buying through the exchange, and give users exercise right realize their own requirements regarding claims,(iii) Ziggurat cryptocurrency grants the right to profit from up to 20% of Ecex.Exchange Trading Platform outcome, (distribution will be in cryptocurrency, in ethereum until otherwise decided),(iv) using Ziggurat cryptocurrency for internal payments through the Ecex.Exchange Platform,(v)Allow traders to settle Ziggurat tokens,(vi)PlanetZiggurat will not emit additional tokens over initial amount 531 000 000,00 ZIG,(vii) If some services in Ecex.Exhange or another platform will burn Ziggurat tokens then it is allowed to emit additional tokes to restore maximum emission amount,(viii) Founders and Foundation will not sell Ziggurat tokens on public markets until the end of 2018. Only the owner of the Ziggurat digital tokens may purchase with discounts the services of the Ecex.Exchange Platform.

The project is already ongoing and is not directly dependent on ICO. But we see ICO as opportunity1) To involve much more people in project2) Boost significantly the project timescale 3) Introduce token ecosystem in our service4) Promotion and introduction Ecex Exchange ideasAnd, of course, to offer our customers better and more favorable products and services.